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JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation

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Assignment 1: New Venture: Game Plan Format: Paper Due: Week 3, Day 7 (Weight: 20%) OVERVIEW

Throughout this course you will develop a plan to design and implement a new product or service. You have two options, depending whether you identify as an Intrapreneur or an Entrepreneur. Your first step is to select or develop an innovative “big idea” for ONE of the options below:

Option A – Intrapreneur

Choose a product or service that could be added to your organization’s portfolio. You may use your current company or another company that interests you. The source below describes six different models for intrapreneurial initiatives. Consider which model would work best for your concept and your company.

Research Source: Models of Intrapreneurship at: https://www.whataventure.com/blog/6-intrapreneurship-programs

Option B – Entrepreneur

Identify one business idea that you could launch as a start-up business. You may research business ideas at the source below, which provides over 900 small business ideas:

Research Source: https://www.entrepreneur.com/businessideas

For Assignment 1, you will write a Game Plan paper, in which you describe your idea, craft your vision for its implementation, explain its value for customers and stakeholders, and assess major opportunities and threats.

INSTRUCTIONS

Now that you have your “big idea”, it is time to create your Game Plan – as Jack calls it – for making the idea happen. Think about the stakeholders whose support you will need. For an Intrapreneur, they are the senior managers who make major decisions at your company. For an Entrepreneur, they are your key stakeholders, such as prospective investors or partners to support and fund your start-up business. As you research and develop your Game Plan, consider how you can persuade these key stakeholders to support you. Your Game Plan paper will be 3 to 4 pages long. It will describe your “big idea”, explain your vision, analyze the opportunity, assess threats, and show the rationale for implementing the idea now.

JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation

Use the Outline below to organize the body of your Game Plan paper. Also add a short Introduction and Conclusion. You may find it helpful to write your Introduction after completing the main body of the paper.

Ø Briefly describe your company, either the existing company for which you hope to launch a new venture, or the start-up company that you propose to create:

o Company basics:

§ Intrapreneur: When was your company founded? What products and services does it offer? What size is it now? Has its mission changed over time? What is its greatest strength?

o OR

§ Entrepreneur: When will your start-up business launch? What will its mission be? Have you chosen a business name? How many staff will you need? How fast do you plan to grow?

o Where is your company based? Where does it or where will it do business?

o What is the culture of your company, or what business culture do you aspire to create?

Ø Describe your New Product or Service idea: o What is new and unique about your product or service?

o What customer needs or desires does it satisfy?

o What is the value proposition – i.e. why would someone buy your product or service?

Ø Explain the Opportunity: o Why is this the right time to implement this new business or venture?

o What is distinctive, disruptive, and/or innovative about your product or service?

o In what ways will this new idea benefit your company (Intrapreneur) or your investors and partners (Entrepreneur)?

Ø Explain the Threats: o Who are the main competitors for the new product or service?

o How can you distinguish yourselves from the competition?

o What are the major challenges you foresee in implementing your idea?

o How can you manage and mitigate those challenges?

JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation

FORMATTING

§ Typed, double-spaced, using Times New Roman font (size 12) with one-inch margins on all sides; references must follow JWMI style guide and writing format. Check with your professor for any additional instructions.

§ Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date

§ Include a References page to identify your sources

Note: The Cover page and References page are not included in the required page length

JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation

Rubric: Assignment 1: New Venture – Game Plan

CRITERIA Unsatisfactory Low Pass Pass High Pass Honors

1. Describe in detail the Company Basics. Include its size, mission, location, and culture. Weight: 25%

Did not submit or incompletely described the company basics, mission, location, and culture.

Partially described the company basics, mission, location, and culture.

Satisfactorily described the company basics, mission, location, and culture.

Thoroughly described the company basics, mission, location, and culture.

Exemplarily described the company basics, mission, location, and culture. Excellent detail covering all required elements.

2. Describe in detail your new Product or Service Idea. Include what makes it unique, how it satisfies customer needs or desires, and an explanation of its value proposition. Weight 25%

Did not submit or incompletely described the new product or service idea, what makes it unique, and how it satisfies customer needs or desires. Incomplete or missing explanation of the value proposition.

Partially described the new product or service idea, what makes it unique, and how it satisfies customer needs or desires. Partial explanation of the value proposition.

Satisfactorily described the new product or service idea, what makes it unique, and how it satisfies customer needs or desires. Satisfactory explanation of the value proposition.

Thoroughly described the new product or service idea, what makes it unique, and how it satisfies customer needs or desires. Clear explanation of the value proposition.

Exemplarily described the new product or service Idea, what makes it unique, and how it satisfies customer needs or desires. Excellent and detailed explanation of the value proposition.

3. Describe in detail the Opportunity. Include why this is the right time to launch your venture, what is innovative about your product or service, and how your idea will benefit your company or your partners and investors. Weight: 20%

Did not submit or incompletely described the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors.

Partially described the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors.

Satisfactorily described the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors.

Thoroughly described the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors.

Exemplary description of the Opportunity: why this is the right time to launch the venture, what is innovative about the product or service, and how the idea will benefit the company or the partners and investors. Excellent detail covering all required elements.

JWI 575: New Business Ventures and Entrepreneurship Academic Submissions and Evaluation

CRITERIA Unsatisfactory Low Pass Pass High Pass Honors

4. Describe in detail the Threats. Include your main competitors, major challenges that you foresee, and ways to mitigate those challenges.

Weight: 20%

Did not submit or incompletely described the Threats: the main competitors, major challenges that student foresees, and ways to mitigate those challenges.

Partially described the Opportunity: the main competitors, major challenges that student foresees, and ways to mitigate those challenges.

Satisfactorily described the Opportunity: the main competitors, major challenges that student foresees, and ways to mitigate those challenges.

Thoroughly described the Opportunity: the main competitors, major challenges that student foresees, and ways to mitigate those challenges.

Exemplary description of the Opportunity: the main competitors, major challenges that student foresees, and ways to mitigate those challenges. Excellent detail covering all required elements.

5. Clarity, logic, and writing mechanics.

Weight: 10%

Multiple mechanical errors. Much of the content is difficult to understand. Fails to follow The formatting instructions. The text does not flow well.

Several mechanical errors. Parts of the text are difficult to understand. The text does not flow well. Writer fails to justify his or her conclusions and assertions.

More than a few mechanical errors. Text flows well but lacks conciseness or clarity. Assertions and conclusions are generally justified and explained.

Few mechanical errors. Text flows well. Writing concisely and clearly expresses the writer’s ideas. Topics are rationally and logically developed.

No mechanical errors. Text Flows very well. Writing concisely and clearly expresses the writer’s ideas. Topics are developed in an excellent and coherent way.